Joe Colborne is set to become an unrestricted free agent on July 1. The Flames didn't qualify him, relinquishing their exclusive rights over him - but by doing so, they denied his ability to elect for arbitration and, potentially, bind the Flames into an expensive contract.
Colborne had a career season. He scored 19 goals and 44 points, all at a bargain $1.275 cap hit. He's earned every right to want higher salary, and try to negotiate for it.
But even if you ignore the possibility that this was a fluke season of Colborne's, the Flames may not be able to bring him back at his desired price, because they're facing a cap crunch - one that Colborne may not be able to fit into at all.